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Hi could you do both probelms please :) 1. 2. On January 1, 2017, Eagle borrows $33,000 cash by signing a four-year, 6% installment note.
Hi could you do both probelms please :)
1.
2.
On January 1, 2017, Eagle borrows $33,000 cash by signing a four-year, 6% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2017 through 2020. (Table B.1, Table B.2, Tabl Table B4) (Use appropriate factor(s) from the tables provided.) and Prepare an amortization table for this installment note Payments Period Ending Date 2015 2016 2017 2018 Total Beginning Debit Interest Debit Notes Credit Ending Balance Payable Cash Balance Expense 33.000 0 0
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